NEWSLINE Issue No.1. January-March 2018
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kasneb NEWSLINE TheProfessional Journal of kasneb Issue No. 1, January - March 2018 EDUCATIVE INFORMATIVE ENTERTAINING EMPOWERING ORGANISATIONAL AND INDIVIDUAL LEARNING HUMAN RESOURCE ORGANISATIONAL IT SECURITY GOVERNANCE INTEREST RATES: SHIFT WHAT MAKES A MANAGEMENT AND INDIVIDUAL AND THE INTERNAL FROM PRICE MECHANISMS GREAT CREDIT TAPEF kasneb kasneb ARCHITECTURE AND LEARNING AUDITOR’S ROLE TO PRICE CONTROL UPDATES PICTORIAL INSIDE PROFESSIONAL POSITIONING GRETSA UNIVERSITY - THIKA Quality Education for the Real World MINIMUM ACADEMIC PROGRAMMES ENTRY TUITION FEE PER SEMESTER REQUIREMENTS -Bachelor of Commerce (BCom) Specialization options: Accounting , Business Administration, Credit Management, Human KCSE C+ (plus); Resource Management, Entrepreneurship & Enterprise Development, Finance, Marketing, Holders of relevant KNEC Purchasing and Supply Chain Management. Diplomas join in 2nd year of study Note: The BCom programme allows students to take extra courses and graduate with double Holders of relevant KNEC major or major / minor combinations such as Bcom(Double Major, Accounting and Finance) higher Diplomas join in 3rd Kshs.51,000 (Full-time, Evenings & Weekends) or Bcom (Finance Major, Accounting Minor); Bcom (Marketing Major, Finance Minor) etc thus year of study; provided credit Kshs.45,000 (Distance Learning) saving time and money. transfers granted do not Exemptions at no charge for ATD, DCM or part II CPA/CS/CCP/CIFA to join in 2nd year in the respective degree while part III CPA/CS/CCP/CIFA join in 3rd year. programme - Bachelor of Science in Hospitality Management - Bachelor of Science in Computer Science Kshs.55,000 (Full-time, Evenings & Weekends) Kshs.45,000 (Distance Learning) - Bachelor of Arts in Community Development Kshs.50,000 (Full-time, Evenings & Weekends) Kshs.45,000 (Distance Learning) - Bachelor of Education (Arts) KCSE C+(plus) with at least Teaching Courses: English & Linguistics, Literature, Geography, History, Philosophy & C+(plus) in two teaching subjects; Kshs.50,000 (Full-time, Evenings & Weekends) Religious Education, Kiswahili, Mathematics, Business Studies. DIPLOMA AND CERTIFICATE PROGRAMMES IN: Business: Accountancy; Banking & Finance;Agricultural Enterprise & Project Management; Management; Credit Management; Entrepreneurship & Enterprise Development; Food Diplomas Diplomas : Kshs.25,000 (Full-time, Evenings & Weekends) Kshs.22,000 (Distance Learning) in any two of the following Subjects: English,Literature in English, Kiswahili, C.R.E, History, : Kshs.25,000 (Full-time, Evenings & Weekends) Kshs.22,000 (Distance Learning) Health Sciences: Hospitality & Tourism: Management; Travel & Tourism Management. Management. INTAKES IN; JANUARY MAY & SEPTEMBER SEMESTERS Skill Building and Practical Oriented Training Main Campus: Thika Town, along Thika-Garissa Road P.O. Box 3 - 01000 Thika, Kenya Tel: +254 711949006, +254 703917155, +254 712959293, +254 0202308997/8 Website: www.gretsauniversity.ac.ke E-mail: [email protected] • [email protected] • [email protected] For more information SMS the word GRETSA to 20133 free of charge or call 0711 949 006 or 0703 917 155 Join us on Gretsa University - Thika, Follow us on @GretsaUni_Thika kasneb Newsline Issue No. 1, January - March 2018 Editor Honoraris Pius M. Nduatih Editorial Team Isaac M. Njuguna Erasto M. Ng’ang’a Hamida A. Mwilu Boniface N. L. Nderi Circulation Office 3 - Organisational learning 9 - IT security governance and kasneb Towers Hospital Road, Upper Hill the internal auditor’s role P.O. Box 41362 - 00100 Nairobi - Kenya Tel: 254 020 4923000 Cellphone: 0722-201214/0734-600624 Fax: 254 020 2712915 E-mail: [email protected] Website: www.kasneb.or.ke Facebook:kasnebOfficial Twitter: @kasnebOficial kasneb Newsline is the professional students journal of kasneb. The views 19 - Interest rates: Shift from price 25 - What makes a great credit in the articles featured in this journal mechanism to price controls professional? are those of the respective authors and do not necessarily reflect the views of kasneb or its partners. The Editor welcomes contributions from readers especially students and trainers in accountancy, finance, credit, governance and management, information communication technology and cognate subjects. The Editor reserves the right to edit articles for purposes of clarity and brevity. 28 - Human Resource Management 33 Updates Trainers and students are free to Architecture and Positioning photocopy materials contained in this journal for purposes of learning without seeking prior consent from kasneb. Reproduction is allowed without charge as long as prior consent is sought and the source acknowledged. Correspondence should be addressed to: 40 - The Trainee Accountants Practical 46 - Accredited Institutions The Editor Experience Framework kasneb Newsline Marketing and Corporate Affairs Unit P.O. Box 41362 - 00100, Nairobi E-mail: [email protected] 51 - Pictorial 59 - Price winners list kasneb is ISO 9001:2015 certified CONTRIBUTORS TO THIS ISSUE Wasilwa Miriongi Kellen Kiambati Ruth Gatwiri Abdallah Mambo kasnebCliff OsoroNEWSLINE, Issue No. 1, January - March 2018 1 From the CEO’s desk nformation is a key resource for organisational growth. Information feeds an organisation’s knowledge management framework whose Ifocus is on locating, understanding, enabling and encouraging learning by creating the environment, culture and processes where knowledge is Editor Honoraris shared and created. Pius M. Nduatih On the other hand, organisation learning can be viewed as the process of creating, retaining and transferring knowledge within an organisation. Knowledge management links with organisational learning by supporting processes including innovation, individual and collective learning and decision making. In this era of dynamic market changes creating new frontiers in competition, the benefits of continuous organisational learning cannot be gainsaid. It has been argued that organisations lose grip of their core focus not due to lack of knowledge, but due to poor knowledge management and uncoordinated organisational learning. Indeed, learning is at the core of organisational and individual survival, as aptly captured by Alvin Toffler, a businessman and futurist who postulated that “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn and relearn”. The above background sets the tempo for the lead article in this edition of the kasneb Newsline titled Organisational and Individual Learning. The writer brings to the fore topical issues on the subject area such as the principles of organisational learning, the processes involved, types of learning and the differences between learning, training and development. The second article dwells on information technology (IT) security governance and the role of internal auditors in monitoring the same in organisations. The writer also sheds light on cyber security, which is one of the trending topics in IT today. In addition, the writer provides insight on the role of the executive in IT security governance. This edition also features an updated write-up on the Trainee Accountants Practical Experience Framework (TAPEF) which will be implemented jointly by kasneb and ICPAK with effect from 1 July 2018. All new and continuing CPA students will be required to log in their practical experience which will be evaluated at the point of applying for membership of ICPAK. The above and other features in this edition of the kasneb Newsline have been carefully selected to provide our readers with an educative, informative, entertaining and empowering experience. Enjoy your reading If an organisation wants to survive in an era of rapid and complex changes - it has to be a “learning organisation.” Peter Siege 2 kasneb NEWSLINE, Issue No. 1, January - March 2018 ORGANISATIONAL AND INDIVIDUAL LEARNING Ruth Gatwiri, Management consultant and social scientist and culture to develop long-term organisational capacity. rganisational learning theory is concerned with how Probst and Buchel (1997) say it is the ability of the institution Olearning takes place in organisations (Armstrong, 2009). as a whole to discover errors and correct them and to A learning organisation is difficult to describe, except to say change the organisation’s knowledge base and values so that development occurs through shared information, culture, as to generate new problem-solving skills and new capacity leadership that values learning, employees who want to learn for action. and develop new skills (Mathis and Jackson, 2003). According to Argris (1992), organisations do not perform the actions that produce learning; it is individual members of the organisation who behave in the ways that lead to it, although organisations can create conditions that facilitate such learning. From individual to organisational learning Organisational learning takes place within the wide Learning Individual Team Organisational institutional context of inter-organisational relationships learning learning learning and refers broadly to an organisation’s acquisition of understanding, know-how, techniques and practices of any kind and by any means (Argris and Schon,1996). Personal Team Organisational Knowledge knowledge knowledge knowledge Organisational learning is concerned with development of new knowledge or insights that have the potential to influence behaviour. Organisational learning, according to Marsick (1994), is a process of co-ordinated